Auctioneers more optimistic about the market
The Ray White Group has revealed an increase in buyer activity last week across New Zealand in a new report showing improved auction metrics.
According to the report, Ray White New Zealand scheduled 175 auctions last week, up 33.6% year over year, with an all-sold clearance rate of 60.6%, up 11.1% year over year. Also, there was active bidding on 84.2% of auctions last week, and the auctions sold an average of 17.7% above the highest offer received during the campaign.
The number of registered bidders also increased, with an average of 3.8 bidders and 3.1 active bidders, an increase of 1.3 registered bidders on average.
The top result of the week was from a bidding for 12 Rowan Road, Epsom, which was sold at $3.018 million. Ray White Epsom agents Richard Thode and Mark Roberts said the sellers were looking to downsize.
“The property was sold to a family who immigrated to New Zealand and they had been to a few of my listings before. They were ready to buy,” said Thode. “It was a lovely piece of land on a really nice street. It wasn’t double grammar zoned, which made it a bit harder. But we got a really good result in the end.”
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